11 August 2020: Material handling equipment telematics allows operators to manage and monitor fleet operations in real time to improve productivity, customer satisfaction, and cost savings. A sensor can be fixed in the machine, which can be used to convey real-time data and gathers information concerning equipment's location, distance, and fuel consumption. This new innovation is projected to surge the demand for telematics solutions in the market.
In addition, the telematics solutions offer numerous benefits including collision warning systems and driver-alert control systems in vehicles, which is anticipated to surge the demand for material handling equipment telematics.
Truck Telematics Sector to have Largest Share in the Market:
On the basis of raw material type, the material handling equipment telematics market is segmented into forklift, aerial work platform, crane, truck, earthmoving equipment, telehandler, tractor, and others. The truck telematics sector occupied the largest share in the material handling equipment telematics industry in 2017.
Increasing demand for goods transportation from the e-commerce segment and improvements in road infrastructure are anticipated to boost the sales of trucks, which will surge the choice of operation of data about vehicle location, engine diagnostics, and driver behavior. This could further open up new avenues for companies in the market.
The technology is also being gradually installed in a variety of earthmoving equipment such as road work vehicles and articulated wheel loaders to drive job-site productivity by allowing preventative maintenance of these vehicles, reduce consumption of fuel, and track equipment utilization.
Market Insights
The players are gradually capitalizing on R&D activities to develop new telematics solutions to sustain in the highly competitive field. Additionally, off-highway equipment telematics solution providers are also concentrating on strengthening their local existence by cooperating with other companies contributing to similar services and products. In 2013, the Chinese government declared the Belt and Road Initiative (BRI), also termed as One Belt One Road (OBOR), which is a determined scheme designed at connecting Chinese overland with Africa, Middle East, and Europe with the help of railways, highways, energy projects, and ports.
Some of the key players effective in the material handling equipment telematics market are Zonar Systems, ORBCOMM, TomTom International BV, MiX Telematics, Teletrac Navman US Ltd., and Omnitracs.
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